Disney studio profits drop without ‘Star Wars,’ but earnings beat Wall Street expectations

Walt Disney Co. on Tuesday reported lower first quarter results from its juggernaut movie studio, which for the first time in years did not release a “Star Wars” film during the holidays. But despite the earnings decline, the Burbank entertainment …

Walt Disney Co. on Tuesday reported lower first quarter results from its juggernaut movie studio, which for the first time in years did not release a “Star Wars” film during the holidays.

But despite the earnings decline, the Burbank entertainment giant managed to beat Wall Street expectations,...